Karachi Stock Exchange (KSE) 100 index closed lower on Tuesday, having 51813.19 points with a negative change of -574.68. The stock market endured a slight dip on Tuesday after four days of bull rally, as investors capitalized on the opportunity of short gains amid sporadic profit-taking.
The KSE-100 Index opened in green with 450+ points in the first hour of trading. However, it couldn’t sustain it as the KSE-100 index dipped by more than -600 points on the intraday trading. The market started Tuesday’s trading session on a negative note as investors started to “sell on news” as said by market analysts.
A total of six stocks (HBL, MCB, UBL, ENGRO, LUCK, OGDC) have become a part index of the MSCI EM index, which is largely dominated by banks.
Overall, volumes plunged to around 120 million shares in KSE-100 index.
CHEMICAL was the top traded sector with total traded volume of 66,343,570 shares. It was followed by ENGINEERING with a total traded volume of 58,501,000 shares and COMMERCIAL BANKS sector with a total traded volume of 33,638,300.
Top contributors to KSE-100 were
Shares of 397 companies were traded. At the end of the day, 157 stocks closed higher, 215 declined while 25 remained unchanged.
Engro Polymer was the volume leader with 42.40 million shares, gaining Rs 0.30 to close at 31.48. It was followed by Dost Steels Ltd with 41.72 million shares, gaining Rs 0.77 to close at Rs 14.97, Dewan Motors with 20.15 million shares, gaining Rs 2.60 to close at Rs 54.60 and Lotte Chemical with 19.61 million shares, gaining Rs 0.86 to close at Rs 11.53.
The top advancers of the market were:
Top decliners of the market were: